- High mortgage rates and short supply of housing are just part of the pricing story, according to Barclays.
- Strong demand among older Americans is keeping prices high, with analysts saying “Blame the Boomers.”
- That’s as older age groups tend to spur more household formation, adding pressure on the market.
There’s a paradox in the housing market that explains what’s really driving demand and home prices higher, according to Barclays.
Despite a brief drop in home prices late last year, valuations have been rebounding since the first quarter. As prices keep climbing, the housing market has fallen into the grips of an affordability crisis and middle income buyers have been increasingly locked out.
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